I would think it’s obvious [when asked why he’s suing]. To recover the money I invested based on misleading information.— Chriso Wiese
Markus, like many other high profile people, has his enemies… Did I ever see anything that indicated dishonesty? The answer is ‘no’.— Chriso Wiese
Companies in Christo Wiese’s Titan Group have served summons on Steinhoff International Holdings (Pty) Ltd, registered in South Africa, and Steinhoff International Holdings NV, registered in the Netherlands, in respect of claims totalling R59 billion.
The claims relate to cash investments made by the Titan Group in Steinhoff in 2015 and 2016.
The companies claim cancellation of the agreement entered into with Steinhoff International Holdings (Pty) Limited in 2015 whereby the Titan Group subscribed for shares in Steinhoff following the acquisition of Pepkor Limited.
They now claim repayment of the subscription amount.
The second claim relates to the Titan Group’s capital injection into Steinhoff in 2016 to enable it to meet its debt obligations at the time of its acquisition of Mattress Firm in the US.
Listen to the interview in the audio below (and/or scroll down for more quotes from it).
Does anyone suggest that a Chairman can’t be misled?— Chriso Wiese
To say I was ‘blinkered’ is putting it too strongly… It’s stretching the point a little bit…— Chriso Wiese
I invested cash into the company… I was on the board for two years to see how the company was run… It was only then that I decided to make that very substantial investment…— Chriso Wiese
I said in Parliament that I’ve lost 30 years of my life!— Chriso Wiese
It would be fair to assume that it is highly unlikely that he [Markus Jooste] could’ve acted entirely on his own…— Chriso Wiese
Markus’s style was certainly not Whitey’s style… I ascribed it to no more than that.— Chriso Wiese
Don’t let me go on record making that kind of comment [when asked if his trust was betrayed].— Chriso Wiese
…I was naïve… I never heard from him [Jooste] again to this day…— Chriso Wiese
It is actually laughable… Christo Wiese knows there are shenanigans, but he invests R59 billion?! Do you think I am totally insane?— Chriso Wiese
Prominent people from around the world has told me, ‘Don’t let this break your self-confidence, or make you bitter’…— Chriso Wiese
Apparently a journalist called Christo Wiese a millionaire yesterday.— Khaya Sithole (@CoruscaKhaya) April 26, 2018
That was the final straw🙈🙈🙈#Steinhoff
Enjoy The Money Show, but miss it sometimes?
Get the best bits emailed to you daily, right after it ends:
Get the 10 most-read articles of the week from Bruce Whitfield’s The Money Show, emailed to you every Friday morning:
Recommendedby NEWSROOM AI
The Money Show’s Bruce Whitfield interviews EWN reporter Gaye Davis.
Nigeria’s Aliko Dangote remains the richest. Christo Wiese is a billionaire once more. Bruce Whitfield interviews Chris Bishop.
Bruce Whitfield interviews Steinhoff Chair Christo Wiese, the JSE's John Burke and Anchor Capital CIO Sean Ashton.
The Money Show’s Bruce Whitfield interviews Steinhoff International Chairperson Christo Wiese.
Bruce Whitfield interviews the remarkable Wiese (net worth R100 billion!) about how it all began and where it’s going.
Jack Parow tells The Money Show how he runs his finances cooler than you.
Ashley Madison has 60 million members globally and has turned infidelity - cheating on a partner - into big business.
FNB's Chantal Marx on her stock picks of the week and why.
Chris Griffith is stepping down as Anglo Platinum's CEO.
Joanne Joseph spoke to colonel Brenda Muridili to find out more about the operation.
Prof Alex van den Heever explains a recent ruling in the case of a glaucoma patient who took on Discovery.
Former UN high commissioner for human rights Judge Navi Pillay says the ICC has jurisdiction from when SA signed Rome Statute.
Joanne Joseph spoke to BagPortr founder Juan van Rensburg to find out more and whether this will work.
The old scheme Zenzele BB-BEE scheme is winding down in April and it has generated almost R14 billion in value for South African.
EWN reporter Nkosikhona Duma says the SRC has reached a deadlock with the university management over historical debt.